A contract to pay someone back is a legally binding agreement where one party promises to repay a specific amount of money or value to another party within a specified timeframe.
If there was no contract made between you and the person that gave you 50,000 pounds or, they cosigned for you then legally you do not have to pay the money back. Giving someone anything is a gift and not meant to be paid back. 'Loaning' is just what is says and if the person loaned you the money and no contract has been made up between the two of you they trusted that you pay it back and you should.
Even if you do not have a written contract you still have a verbal contract if someone has agreed to rent you an apartment for a specific price. Verbal contracts are also enforceable (although not as easily as written contracts, since there may be no concrete evidence about what exactly was agreed). In any event, if you agreed to pay rent, then you do owe the rent that you agreed to pay, contract or no contract.
When you pay someone back you are usually giving them money back, you are repaying that person.
yes
You get it back after meeting the terms of the contract. the LENDER will tell you how much it costs to get it back.
what is Measure and pay contract
A bond is a formal contract by the government to pay back money you loan to them.
No, you just pay for the contract.
Yes, you had a verbal contract for exchange of value (unless you chose to do it as a gift). No written document is necessary to create a contract. You can even bring a lawsuit against them to force payment if they refuse to pay.
Look at the small print on the contract. There is a period in most states where either party can decline to proceed with the contract.
It would depend on the contract you had
To pay someone back for a wrongdoing. To make amends.